{"id":33878,"date":"2016-11-11T16:52:58","date_gmt":"2016-11-11T09:52:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/asias-most-expensive-apartment-just-sold-in-hong-kong-again\/"},"modified":"2016-11-11T17:03:04","modified_gmt":"2016-11-11T10:03:04","slug":"asias-most-expensive-apartment-just-sold-in-hong-kong-again","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/asias-most-expensive-apartment-just-sold-in-hong-kong-again\/","title":{"rendered":"Asia\u2019s most expensive apartment just sold in Hong Kong \u2014 again"},"content":{"rendered":"


\nWhat stamp duty?
\nVictoria Peak, Hong Kong. caminoel\/Shutterstock
\nDefying expectations after the increased stamp duty on property purchases, Hong Kong just saw the sale of the most expensive apartment in Asia in terms of cost per square foot.
\nUnits 16A and 16B at luxury development Mount Nicholson on The Peak sold for a record HKD104,803 (USD13,500) per square foot or HKD1.1 million (USD142,000) per square metre on Tuesday, the South China Morning Post reported. The flats, which are adjoining, cover an 8,702-sq ft (808 sqm) area, with eight bedrooms and 12 toilets.
\nThe transaction comes on the heels of the SAR government starting to levy a 15 percent stamp duty last week on home buyers across the board, with the exception of first-time purchasers who are also permanent residents. Critics contend that the stamp duty may do little to stem the demand for Hong Kong homes in the face of low US interest rates and the depreciation of the yuan.
\nMore: Where the Hong Kong MTR goes, property boom follows
\nExperts speculated as to the identity of the new flat owners. \u201cThey may be the children of super rich families who are do not own any apartments,\u201d Sammy Po, chief executive at Midland Realty\u2019s residential department, told the Post.
\nAs first time purchasers, they stand to be charged only a 4.25 percent stamp duty.
\nWith this latest sale, Hong Kong broke its own record transaction of a HKD590-million (USD76 million) duplex at the Mid-Levels district last year.
\nRead next: Hong Kong\u2019s newest expat neighborhood keeps on getting cooler
\n
\nSource : property-report.com
\nRead more…Asia\u2019s most expensive apartment just sold in Hong Kong \u2014 again<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What stamp duty? Victoria Peak, Hong Kong. caminoel\/Shutterstock Defying expectations after the increased stamp duty...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-33878","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8Oq","jetpack-related-posts":[{"id":33516,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-luxury-flats-in-hong-kong-sell-for-a-record-hk104803-per-sq-ft-the-highest-in-asia\/","url_meta":{"origin":33878,"position":0},"title":"Adjoining luxury flats in Hong Kong sell for a record HK$104,803 per sq ft, the highest in Asia","date":"November 8, 2016","format":false,"excerpt":"\r Three days after the Hong Kong government raised the residential stamp duty to 15 per cent to rein in runaway home prices, adjoining luxury flats on The Peak sold for HK$104,803 per square foot, the most expensive for an apartment in Asia in terms of per square foot cost.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41724,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/corporate-buyer-to-pay-record-hk324-million-in-stamp-duty-for-luxury-house-on-hong-kongs-peak\/","url_meta":{"origin":33878,"position":1},"title":"Corporate buyer to pay record HK$324 million in stamp duty for luxury house on Hong Kong\u2019s Peak","date":"January 24, 2017","format":false,"excerpt":"\r A corporate buyer is set to pay the highest stamp duty ever on a property in Hong Kong, after forking out HK$1.08 billion for Asia\u2019s most expensive house per square foot. The buyer, named as Giant Victory Holdings in a filing with the Land Registry on Tuesday, is likely\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34574,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-braces-for-the-big-chill-from-new-stamp-duty\/","url_meta":{"origin":33878,"position":2},"title":"Hong Kong braces for the big chill from new stamp duty","date":"November 16, 2016","format":false,"excerpt":"\r Is buying second homes in the Chinese SAR worth the extra burden? Songquan Deng\/Shutterstock Apparently, the sale of Asia\u2019s most expensive apartment last week was just a fluke. Home buyers in Hong Kong are finally feeling the chill from the latest cooling measure increasing the stamp duty for second\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51695,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cheung-kongs-harbour-glory-almost-sold-out-as-buyers-shrug-aside-stamp-duty-move\/","url_meta":{"origin":33878,"position":3},"title":"Cheung Kong\u2019s Harbour Glory almost sold out as buyers shrug aside stamp duty move","date":"April 12, 2017","format":false,"excerpt":"\r Cheung Kong Property Holdings, the first Hong Kong developer to put an apartment project on the market after a tightening in the government\u2019s tax policy, said buyers had shrugged aside concerns of a higher levy to snap up nearly every one of the 152 units of its Harbour Glory\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35634,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-real-estate-prices-to-soften-next-year\/","url_meta":{"origin":33878,"position":4},"title":"Hong Kong real estate prices to soften next year","date":"November 24, 2016","format":false,"excerpt":"\r That pesky stamp duty again The future\u2019s a blur. Image: iMoStudio\/Shutterstock Residential prices in Hong Kong are to face downward pressure in 2017 following the governments stamp duty increase for non-first time buyers, says Colliers. The stamp duty hike on 5 November is the second increase in three years.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":48940,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-stamp-duty-on-pre-sold-units-is-inflating-hong-kong-house-prices\/","url_meta":{"origin":33878,"position":5},"title":"How stamp duty on pre-sold units is inflating Hong Kong house prices","date":"March 21, 2017","format":false,"excerpt":"\r Home prices in Hong Kong soared late last year, to the surprise of many, after falling by about 4 per cent between 2015 and 2016. Developers quickly pushed large numbers of pre-sale units onto the market at very high markups. The government responded quickly by slapping on an additional\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33878"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=33878"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33878\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=33878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=33878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=33878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}